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UAE non-oil trade rises slightly to $320bn

Federal Customs Authority reveals small uptick for first nine months of 2017

By Staff writer

Thu 01 Feb 2018 01:07 PM

UAE non-oil trade figures rose slightly to about AED1.17 trillion ($320 billion) for the first nine months of 2017, according to the Federal Customs Authority (FCA).

Preliminary statistical data revealed that trade volume between January and September increased from AED1.16 trillion during the same period in 2016.

Commissioner Ali Al Kaabi, head of the FCA, said in comments published by state news agency WAM: "The non-oil trade activity reflects an improvement in UAE trade balance with many world countries, and assure trader and investor confidence in the UAE economy."

He added that non-oil trade made up 68 percent of total volume at a value of AED800.6 billion while the share of free zone trade was 32 percent (AED371.5 billion).

FCA data indicated that gold and semi-processed gold was ranked first for imported goods during the first nine months of 2017, recording AED98 billion, followed by mobile phones with a value of AED66 billion, and motor vehicles with AED37.5 billion.

The FCA said UAE exports reached AED139.1 billion, with gold topping the list with a value of AED41.2 billion, followed by ornaments and jewellery with a value of AED13 billion, raw aluminum at AED12.8 billion.

Asia, Australia and the Pacific region was the biggest non-oil trading partner with a share of AED470.4 billion, followed byEurope (AED244.3 billion) and the Middle East and North Africa (AED217 billion.

UAE non-oil trade with the GCC countries constituted 11 percent of the total non-oil trade with the world, amounting to AED127 billion, with Saudi Arabia topping the list with AED58 billion.